June marks National Homeownership Month, which recognizes the value of homeownership and its positive impact on families, communities, and the nation’s economy. This month allows a time to celebrate and promote this American Dream and identify the many benefits of owning that roof over your head. 

“Most consumers know that homeownership is among the most sound investments an individual can make in building personal wealth. However, owning a home is not just in the best interest of the homeowner. It provides social stability, builds communities, and is a driving force for the national economy,” said Peter Schwartz, president of the Northeast Association of REALTORS®.  

Below are some of the benefits: 

Social stability: Improved educational performance, lower crime rates and improved health are a few social benefits linked to homeownership. “Homeownership allows households to accumulate wealth, which opens doors to more engagement in communities through volunteer work, involvement in social activities, and electoral participation,” said Schwartz.

Strong communities: Homeowners tend to stay in their homes longer than renters, dedicate more money to improve their home, and are more engaged in enhancing their community. “Homeowners are often more invested in their home and their surroundings, which leads to stronger neighborhoods and communities and increased interaction between neighbors,” said Schwartz.

Economic force: Being a homeowner also has a positive local and national economic impact. That is because homeownership creates jobs through remodeling, landscaping, lawn service, furniture and appliance purchases and repairs, home improvement, and real estate services. “When a home is sold in the United States, the income generated from real estate-related industries is over $41,000 and additional expenditures on consumer items approximates $4,700 – a boom to the economy,” said Schwartz.

Brings families together: Along with being more involved in their communities, homeowners are often active and connected to their own families. Family dinners and game nights at home mean a more-connected, happier family.

“Home is where people make memories and feel comfortable and secure. Homeownership Month is an opportunity to reiterate that anyone who is able and willing to assume the responsibilities of owning a home should have the opportunity to pursue that dream and enjoy the many benefits that come along with it,” said Schwartz.

Consumers can learn more about National Homeownership Month and keep up with housing-related tips, news, stories and policy issues through Homeownership Matters: https://homeownershipmatters.realtor 

For more information about buying or selling a home, contact the Northeast Association of REALTORS® or visit www.northeastrealtors.com to find a local REALTOR®, a member of the National Association of Realtors®.